AURELIUS reports preliminary numbers for 2014 and plans to raise its dividend to EUR 2.00 per share

02.03.2015

AURELIUS reports preliminary numbers for 2014 and plans to raise its dividend to EUR 2.00 per share

  • Consolidated revenues reach EUR 1,595.8 million in 2014 (+5%).
  • Consolidated EBITDA climbs to a record EUR 207.8 million (+135%)
  • Cash holdings reach a record level of EUR 328.4 million (2013: EUR 223.9 million).
  • Management to propose a dividend of EUR 2.00 per share (2013: EUR 1.05).

Munich, March 2, 2015 – The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) closed financial year 2014 with record revenues and earnings. Based on preliminary, not yet audited numbers, consolidated revenues rose by 5% to EUR 1,595.8 million (2013: EUR 1,525.2 million). Annualized consolidated revenues rose by an even stronger 8% to EUR 1,725.3 million (2013: EUR 1,602.2 million).

Consolidated EBITDA more than doubled

Consolidated EBITDA reached EUR 207.8 million, the highest amount in the company’s history and 135% higher than the prior-year figure (2013: EUR 88.6 million). While this result is higher than the original EBITDA forecast of at least EUR 200 million, it is below the revised EBITDA forecast, which was raised to EUR 240 million in November 2014. The main reason for this development was the postponement to the first half of 2015 of a transaction that had originally been planned for the fourth quarter of 2014. Binding contracts have since been signed and the positive earnings effect of this transaction will be reflected in the results for the first half of 2015.

Consolidated operating earnings before interest, taxes, depreciation, and amortization (EBITDA) reached EUR 94.8 million in 2014 (2013: EUR 106.2 million). This performance reflects the generally positive development of the AURELIUS Group companies. Income from the reversal of negative goodwill arising on capital consolidation (“bargain purchase income”) amounted to EUR 70.3 million (2013: EUR 41.2 million), while restructuring and non-recurring expenses amounted to EUR 59.8 million (2013: EUR 58.8 million).

Consolidated operating EBITDA also included the gains on sales of Group companies above book value, in the amount of EUR 102.5 million (2013: EUR 0 million). This is a record amount for AURELIUS.

Plentiful cash reserves, as before

Due in large part to the proceeds collected on the successful sales of brightONE Healthcare, Connectis, and Framochem in financial year 2014, AURELIUS held cash and cash equivalents in the record amount of EUR 328.4 million as of year-end 2014 (December 31, 2013: EUR 223.9 million), based on preliminary numbers. The equity ratio was 26% (December 31, 2013: 29%).

Dividend raised by 90% to EUR 2.00, record pay-out of EUR 63.4 million

As in prior years, the Executive Board would like for the shareholders of AURELIUS AG to benefit from the company’s success in financial year 2014, and therefore it will propose to the Supervisory Board for the annual shareholders’ meeting to be held on June 15, 2015 that the company pay a dividend of EUR 2.00 per share from the distributable profit of AURELIUS AG. The dividend will be composed of a basic dividend of EUR 0.80, which is 14% higher than last year (2013: EUR 0.70), and a special dividend of EUR 1.20, which is 243% higher than last year (2013: EUR 0.35). Thus, the planned dividend pay-out will amount to EUR 63.4 million (2013: EUR 33.3 million). The reason for the considerably higher special dividend can be found in the successful company sales in 2014, particularly the sale of the Healthcare Division of brightONE to T-Systems and the sales of the Hungarian Framochem and the Swiss connectis AG to strategic investors.

Transaction pipeline is still very well filled

After eight company acquisitions and five company sales in the very busy year 2014, AURELIUS still disposes of a very well filled transaction pipeline and is working intensively to close other transactions. Two of these acquisitions, one of the European operations of the Tavex Group and one of the European Crafts Division of Coats, have already been announced in the current year.

Key Figures

     

(in euro millions)

01/01 – 12/31/2014

01/01 – 12/31/2013

Consolidated revenues

1,595.8

1,525.2

Consolidated revenues, annualized

1,725.3

1,602.2

Consolidated EBITDA

207.8

88.6

- thereof bargain purchase income

70.3

41.2

- thereof restructuring and non-recurring expenses

59.8

58.8

- thereof sales of subsidiaries above book value

102.5

-/ -

Consolidated operating EBITDA

94.8

106.2

 

12/31/2014

12/31/2013

Cash and cash equivalents

328.4

223.9

Equity ratio

26%

30%